GAP (NYSE:GPS – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.
Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of GAP from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Wells Fargo & Company raised their target price on shares of GAP from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Telsey Advisory Group raised their target price on shares of GAP from $11.00 to $17.00 and gave the stock a “market perform” rating in a research note on Friday, November 17th. Evercore ISI assumed coverage on shares of GAP in a research note on Tuesday, November 7th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, BMO Capital Markets lifted their price objective on shares of GAP from $8.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.93.
GAP Stock Performance
GPS opened at $19.74 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 197.42, a PEG ratio of 1.43 and a beta of 2.19. The company’s 50 day moving average is $20.40 and its 200 day moving average is $14.39. GAP has a 12-month low of $7.22 and a 12-month high of $22.08.
GAP (NYSE:GPS – Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.39. GAP had a net margin of 0.30% and a return on equity of 3.41%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that GAP will post 1.14 EPS for the current year.
Insider Activity at GAP
In related news, EVP Sarah Gilligan sold 11,741 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $16.20, for a total transaction of $190,204.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other GAP news, major shareholder John J. Fisher sold 478,330 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $21.38, for a total transaction of $10,226,695.40. Following the transaction, the insider now owns 3,793,186 shares in the company, valued at $81,098,316.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sarah Gilligan sold 11,741 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $16.20, for a total transaction of $190,204.20. The disclosure for this sale can be found here. Insiders have sold a total of 835,666 shares of company stock valued at $17,042,370 over the last 90 days. 30.81% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of GPS. Marshall Wace LLP bought a new position in GAP during the fourth quarter valued at $20,617,000. Ameriprise Financial Inc. grew its holdings in shares of GAP by 73.4% in the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock worth $37,976,000 after purchasing an additional 1,512,067 shares during the last quarter. BNP Paribas Arbitrage SNC grew its holdings in shares of GAP by 57.0% in the first quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock worth $13,306,000 after purchasing an additional 481,339 shares during the last quarter. American International Group Inc. grew its holdings in shares of GAP by 470.4% in the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock worth $5,075,000 after purchasing an additional 297,247 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of GAP by 54.9% in the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock worth $7,544,000 after purchasing an additional 189,872 shares during the last quarter. Institutional investors own 61.71% of the company’s stock.
About GAP
The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.